To answer it simply. Yes Cue has a share price of 27c, but you forgot to factor in that it has close to 700M shares giving it a market cap of $180M. Roughly triple of MOG (fully diluted). Enough said.
MEO's needs to find a new operator/partner by Dec 09 for the drilling. It has said it is aiming to offer 50% of its 70% stake for a free carry. Leaving it with 20%, although some have said it might be left with 15%. MEO has other projects, but in the end its market cap is about $255M.
Fully diluted (200M shares) MOG had a market cap of $72M on close today.
$72M (MOG) vs $180M (CUE) vs $255M (MEO), all looking at 15% or in MEO's case maybe 20%.
MOG Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
